What is cNGN and how does it different from eNaira

What exactly is cNGN, and why does it matter? You may be wondering. This article explains what you should know, and how it's different from eNaira.

Anonymous

What is cNGN and how does it different from eNaira

cNGN is Nigeria’s first regulated stablecoin, launched in February 2025 and pegged 1:1 to the Nigerian Naira and fully backed by a reserve of safe assets like bank deposits, cash notes, government bonds, and treasury bills. The cNGN stands for " contractual Nigerian Naira ", and it is used within blockchain and cryptocurrency ecosystems to represent the value of the Naira in a digital, and programmable form. cNGN is built and developed by WrappedCBDC Ltd. in partnership with Convexity, Interstellar, and AlphaGeeks Tech, and operates under the supervision of the Nigerian Securities and Exchange Commission (SEC) through its Regulatory Incubation Program. This program is essentially a sandbox where innovative fintech or crypto products can be tested in a controlled environment, with oversight from regulators. It allows companies to try out new ideas without immediately facing the full weight of financial regulation, while still staying compliant. Unlike the wild volatility of crypt…

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